Funding arb · Price arb /

LINK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: edgeX against Deribit−0.576%7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$310.312% of the position

Long on Deribit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.237%+$24 on $10k

Price spread, last 3 days (all we have)+0.455%+$45 · spread now −0.576%, 7d avg −0.026%

Together, before fees+0.692%+ Points / potential airdropedgeX: Active · farm board+$69 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.551% cheaper against Deribit than usual: you would sell low and buy high (spread −0.576% now, against its 7-day average of −0.026%). If the spread goes back, that is −$55 on $10k: about 18 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit LINK_USDC-PERPETUAL	13.199	0	get 0.0000% / 1h	20m 40s	$721K	$125K	50x
Short	edgeX LINKUSDC	13.123	0.0100	get 0.0050% / 4h	1h 20m	$44K	$308K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee edgeXbpOrdersPrice spread, now −0.576%Rate

Funding earned: $21
Price spread: −0.576% → −0.026%: −$55.08
Slippage, 4 orders: −$15.24
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$65.33
Costs to cover: 0.312%
Break-even: 28.8 days

Slippage from Deribit: live order book, 63 min ago; edgeX: live order book, 62 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Deribit live order book, 63 min ago	2.66 bp	6.2 bp −$6	12.4 bp −$124	doesn't fit	doesn't fit
Sell edgeX live order book, 62 min ago	2.28 bp	6.8 bp −$7	10.1 bp −$101	doesn't fit	doesn't fit

LINK on 40 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GMX LINK/USD [LINK-USDC]	L −0.0090% / S +0.0167%	1h	13.194	−0.041%	$1.8M	—	200x	as long as short
dYdX LINK-USD	0.0000%	1h	13.173	−0.198%	$349K	$48K	10x	as long as short
Kalshi KXLINKPERP	0.0000%	8h	13.205	+0.042%	$460K	$2.3M	3.7x	as long as short
Deribit LINK_USDC-PERPETUALlong	0.0000%	1h	13.199	long leg	$721K	$125K	50x
gTrade (Gains Network) LINK/USD	L +0.0004% / S −0.0006%	1h	13.194	−0.036%	$134K	—	150x	as long as short
Injective LINK/USDC PERP	+0.0033%	1h	12.400	−6.055%	$4K	$48K	12x	as long as short
Phoenix LINK	+0.0037%	1h	13.193	−0.047%	$3K	$81K	10x	as long as short
Orderly PERP_LINK_USDC	+0.0041%	8h	13.193	−0.047%	$134K	$1.5M	20x	as long as short
Lighter LINK	+0.0096%	1h	13.177	−0.168%	$2.1M	$2.4M	10x	as long as short
Paradex LINK-USD-PERP	+0.0100%	8h	13.173	−0.201%	$32K	$3K	20x	as long as short

Show all 40 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado LINK-PERP	+0.0100%	1h	13.192	−0.055%	$403K	$314K	10x	as long as short
Hyperliquid LINK	+0.0100%	1h	13.189	−0.077%	$77.8M	$24.0M	10x	as long as short
Aster LINKUSDT	+0.0100%	8h	13.179	−0.150%	$1.4M	$2.9M	50x	as long as short
Pacifica LINK	+0.0100%	1h	13.175	−0.184%	$276K	$148K	10x	as long as short
Binance LINKUSDT	+0.0100%	8h	13.169	−0.229%	$122.3M	$303.2M	75x	as long as short
Bybit LINKUSDT	+0.0100%	8h	13.169	−0.229%	$85.0M	$70.5M	75x	as long as short
OKX LINK-USDT-SWAP	+0.0100%	8h	13.170	−0.221%	$27.7M	$86.1M	50x	as long as short
Arcus LINK-USD	+0.0100%	1h	13.191	−0.062%	$185K	$172K	10x	as long as short
Gate LINK_USDT	+0.0100%	8h	13.177	−0.168%	$130.7M	$12.7M	75x	as long as short
MEXC LINK_USDT	+0.0100%	8h	13.173	−0.198%	$36.3M	$56.8M	300x	as long as short
KuCoin LINKUSDTM	+0.0100%	8h	13.185	−0.108%	$22.5M	$15.7M	75x	as long as short
Bitget LINKUSDT	+0.0100%	8h	13.174	−0.191%	$54.8M	$30.6M	75x	as long as short
BingX LINK-USDC	+0.0100%	8h	13.175	−0.183%	—	$6.6M	—	as long as short
Variational Omni LINK	+0.0100%	8h	13.119	−0.609%	$3.3M	$1.5M	—	as long as short
edgeX LINKUSDCshort	+0.0100%	4h	13.123	−0.576%	$44K	$308K	20x
GRVT LINK_USDT_Perp	+0.0100%	8h	13.134	−0.492%	$593K	$2.7M	10x	as long as short
ApeX Omni LINKUSDT	+0.0100%	1h	13.133	−0.502%	$153K	$670K	50x	as long as short
Polymarket Perps LINK-USD	+0.0100%	1h	13.194	−0.039%	$82K	$69K	10x	as long as short
Derive LINK-PERP	+0.0100%	1h	13.192	−0.056%	$16K	$22K	10x	as long as short
SunX LINK-USDT	+0.0100%	8h	13.209	+0.077%	$34K	$1.6M	30x	as long as short
SoDEX LINK-USD	+0.0100%	1h	13.195	−0.032%	$5K	$38K	10x	as long as short
HTX LINK-USDT	+0.0100%	8h	13.169	−0.225%	$647K	$894K	75x	as long as short
Extended LINK-USD	+0.0104%	1h	13.170	−0.218%	$678K	$1.8M	25x	as long as short
Aevo LINK-PERP	+0.0104%	1h	13.198	−0.009%	$553K	$2K	3x	as long as short
Coinbase International LINK-PERP-INTX	+0.0120%	1h	13.200	+0.006%	$994K	$2.8M	50x	as long as short
Backpack LINK_USDC_PERP	+0.0214%	1h	13.189	−0.077%	$365K	$375K	15x	as long as short
BloFin LINK-USDT	+0.0220%	8h	13.193	−0.047%	$5.3M	$17.0M	75x	as long as short
Reya LINKRUSDPERP	+0.0376%	1h	13.190	−0.070%	$5K	—	20x	as long as short
Phemex LINKUSDT	+0.0466%	8h	13.210	+0.082%	$20.5M	$11.5M	50x	as long as short
Kraken Futures PF_LINKUSD	+0.0692%	1h	13.201	+0.016%	$7.0M	$8.1M	50x	as long as short